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We’re a respected and trusted insurance broker and work with a range of different customers. We therefore feel that we are well placed to provide helpful insight into the Insurance industry and all the latest regulatory news. Read all the latest insights below.

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FirstPort Insurance Services Limited

Insurance Insights

We’re a respected and trusted insurance broker and work with a range of different customers. We therefore feel that we are well placed to provide helpful insight into the Insurance industry and all the latest regulatory news. Read all the latest insights below.

What is a broker and why should I use one?

Buying insurance can seem complicated and at times overwhelming. A broker can help you to find the right cover and the best deal for your individual needs. Find out about the many benefits here.

What is Alternative Accommodation?

If your home is damaged by an insured peril (such as fire or water) and is rendered uninhabitable your insurers will provide alternative accommodation for you, your family and pets for the duration of the time it takes to repair your home, subject to any policy conditions.

Reinstatement Cost Assessments

Insurance Premium Tax increase

Insurance Premium Tax is a tax applied to insurance by the Government. It is included within any premium quoted by an insurance company or an insurance broker and it is the responsibility of the insurance company to ensure it is paid to the Treasury.

Terrorism Cover or Not

Although the threat of the IRA has receded, 9/11 highlighted a new threat which resulted in insurers paying out over £30bn in claims. Following on from this event the world wide insurance market withdrew terrorism cover as standard, and it is now only available to buy at an extra cost in respect of commercial property insurance, which relates to blocks of apartments.

What is Trace and Access?

Trace and access cover is only operative if there has been water damage to the structure of the property caused by a leaking pipe or apparatus (such as a boiler/washing machine/dishwasher) and the property requires works to repair the water damage (such as painting, papering, replacement of plasterboard walls etc).

Insurance Act 2015

The above act, which affects every business insurance policy placed, renewed or amended after 12th August 2016, has significantly changed insurance law for the first time in over 100 years.
It is therefore important you understand the way in which this affects those who are policyholders under a business contract of insurance.